An act to Incorporate the toring Rock River Hydraulic and Manufactoring Company .

Sec 1^t[Section] Be it enacted by the People of the State of Illinois represented in the General Assembly, That all Such stockholders to the Stock hereinafter Created, shall be Constituted a body Politic and Corporate by the name and Style of the Rock River Hydraulic and Manufactoring Company, and by that Name and Style, they and their Successors shall have power to contract and be contracted with, and be Capable in law and Equity, to sue and be sued, to Plead and be Impleaded, to answer and be answered unto, to defend and be defended in all Courts and places, and in all matters whatsoever. Said corporation may have and use a common Seal which they may alter and change at pleasure.

Sec. 2^d The capitol Stock of said Corporation shall be One Hundred Thousand Dollars, divided into shares of one Hundred Dollars Each, and the Capitol Stock may hereafter be increased, to Two Hundred Thousand Dollars should a magority of the stock holders deem it necesary to be expended in the completion of the work now commenced by the State of Illinois for the Improvement of the Lower Rapids on Rock River2, in the erection of Mills[,] Mechienes, works, Boats, Buildings, Mineing for Coal or other materials, and such other building [...?] for the best Interest of said Corporation. ^and for no other purpose,^

Sec 3^d In order to facilitate the busieness operations of said Grant Corporation or Company, they Shall be authorised to negociate a loan or loans of money to the amount of its capitol stock and to pledge all its property personal and Real and all its rights credits and franchises for the payment thereof.

Sec 4^t That said Corporation may purchase and hold Such Real estate as may be deemed necesary for the Transaction of its buseiness to an amount not exceeding one ^ Quater ^ Section of Land, and to take and Hold any Real Estate as Securities Mortgaged and pledged to said Corporation, to take and receive the payment of any debts due or that may become due to it, and also to purchase on sales made by virtue of any Judgement at Law, or any decree of a court of equity, in favor of said corporation, to take and receive any real Estate in payment or towards Satisfaction of any debt previously Contracted or due said Corporation, and to hold the same, untill they can conviently and advantageously, Sell and Convert the same into money or other personal property, and to sell and convey Said real Estate or any part thereof

Sec. 5. For the purpose of Carrying into effect the objects of this Incorporation, William G Dana, George A Clark, Frederick R Dutcher, Joseph Knox and Joseph Conway are hereby appointed Commissioners to obtain Subscriptions to and apportion the Capitol Stock of Said Company. Said Commissioners or a magority of them, after haveing given ten days notice in a News Paper printed in Stephenson, Shall open Books for the Subscription of the Stock herein created, at some place in the town of

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Stephenson and keep the same open for Ten Days, unless the Stock shall have been Sooner Subscribed for, If the whole of said Capitol Stock shall not be subscribed for during the Ten days in which said Books are kept Open the said Commissioners Shall make Such other arrangements for the further dissposition of said Stock, as they shall think advisable for the sale of the same. Five Dollars On each share of said Stock Shall be paid at the time of Subscription, ^in Cash,^ the residue at such times and in such Installments as the president and Board of Directors Shall Call for the same, and unless the installments shall be so paid when called upon so to do, by said Directors, said Stock So Subscribed for Shall be forfeited to said Corporation.

Sec. 6. As soon as the said Capitol Stock Shall have been Subscribed for, the Said Commissioners or a mgority of them, Shall give public notice, that an election will be held at some place in said Town of Stephenson for Five Directors to be chosen by said Stock holders, at which election the said Commissioners shall be Inspectors. Each share shall be entitled to one Vote, which may be given in person or by proxy, and the five persons haveing the highest number of Votes Shall be duly elected, and Shall be directors of said Company untill others are elected and qualified. They shall choose one of their number as President of the Board, and appoint Such other officers and agents as may be deemed necesary for the management of their busieness. Said Commissioners shall certify under their hands the names of those duly elected, and deliver over the Subscription moneys and Books to the said directors, and appoint the time and place of holding the first meeting of the directors.

Sec. 7. The said president and directors Shall have the management of the Concerns of said corporation, they Shall have Power to make such by laws as they Shall think necesary for the good government of said Corporation.

Sec. 8^t The Election of directors shall be anually on the first Monday of every month in which the first Set of Directors are elected, the Stock of said Company shall be deemed personal property and Transferable on the Books of said company. But no Person indebted to said company Shall be permited to Transfer his Stock, untill such debts be discharged to ^the^ satisfaction of a majority of the directors of said Company.

Sec. 9. Said Corporation shall be entittled to all the Estate3 both personal and Real belonging to the State of Illinois lying and being on Vandruffs Island and all or any materials belonging to, or paid for by the state of Illinois for the makeing and completion of the Improvement of the Lower Rapids ^of^ Rock River. Said Corporation shall complete said Improvements according to the plans and Surveys reported to the Board of Public works by their engineers, within four years from the Passage of this act, and on the Completion of said work within the time last aforesaid, the members of the said Corporation shall become personally liable to the State, to pay and refund to the state, all moneys that shall ^then^ be due or thereafter become due to the state by the provisions of this act.

Sec. 10^t And the said Corporation is hereby authorised and empowered to Construct and Complete a dam accross the north branch of said Rock River at Vandruffs Island also all Dams necesary for the Completion of said Improvement, and to complete the Locks and Improvements there heretofore commenced by the state, in the manner hereinafter provided.

Sec. 11^t Said corporation shall be entitled to all the advantages and benefits ariseing or accruing from the completion of said work and water Power created thereby. Also the right to levey and Collect tolls from all Boats[,] Rafts[,] and other property passing through said Canal embraced in said Improvement, at the rate of forty Cents pr[per] Ton, for Steam[,] Flat[,] or Keel Boats united States measurement, for all rafts not exceeding one Hundred feet in Length three Dollars for all rafts exceeding One Hundred feet in Length Five Dollars

Sec. 12. Said Corporation shall pay or Cause to be paid into the Treasurey of the state of Illinois for said real Estate[,] work done[,] and materials furnished for the Improvement of said Rapids, at a fair valuation all moneys so expended by the state of Illinois with six pr Cent Interest thereon from the Completion of Said work in the manner following, Viz, in Five anual Installments, the first to be paid on the second Day of January A D. 1846, and so on untill the whole amount is Paid.

Sec. 13. In order to assertain the Value of said Real Estate, work done[,] and materials furnished by the state for said Improvement, It shall be lawfull for any acting Magistrate for said County of Rock Island, when Called upon so to do, to appoint three disinterested persons, two of which shall be citizens of said County and One Competent Engineer, to appraise said Real Estate, work done[,] and materials furnished. Such appraisal so made, shall be Certified to by a magority of said appraisers, and a true copy filed in the auditors office ^o^for the state of Illinois.

Sec. 14. At the experation of twenty years from the passage of this ^act^ the state of Illinois have the right to purchase of the said Corporation all the Improvements made by Said Corporation under this act, Including the Dams[,] Canal[,] and Locks[,] and all Erections made by said Corporation on said real Estate, On paying to said Corporation the amount expended in said Improvements, together with the money that shall be paid to the state in pursuance of the Twelveth Section of this act, with Seven pr Cent Interest on the whole amount thus paid and expended by said Corporation. But if the state shall not at the expiration of said twenty years, purchase and pay for said Improvements in manner aforesaid, then all the rights and privilidgess granted and given by this act, to said Corporation, shall be Continued to said Corporation for the space of Fifty years thereafter, and at the expiration of said last mentioned time, the said Dams[,] Canal[,] & Locks shall become the property of the state of Illinois, without any Compensation or payment whatsoever therefore ^Provided the State shall at all times keep said Dams[,] Canal[,] & Locks in good repair.^ 4